What’s cooking in the IPO kitchen?
Touchstone Exploration— Oil exploration and production company active in the Republic of Trinidad and Tobago. Interests of approximately 90,000 gross acres. Production c. 1,300 boepd. Raising £1.45m. Expected mkt cap £7.5m. Due 26 June.
I3 Energy –Schedule 1. Independent oil and gas company with assets and operations in the UK. Offer TBC, 7 June admission.
Verditek— Schedule 1 update. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Issue price 10p. Admission in Early June
Tiso Blackstar Group—Schedule 1 update. Media, entertainment and marketing solutions group/ £160m mkt cap. Admission only. Expected late June.
Main Market Premium Listing
DP Eurasia—Intention to float from the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. £20m primary raise plus a partial vendor sale.
Film Finances—Sky News reports that ‘movie financing company with credits including the Hollywood hits La La Land and Nocturnal Animals is plotting a blockbuster premiere on the London stock market that will value it at several hundred million pounds.’ Expected ‘during the summer’.
AIB—Intention to float from AIB, Ireland's leading retail and commercial bank . The Minister for Finance intends to sell approximately 25% of the Ordinary Shares of AIB. Prospectus and announcement of the price range due in mid-June 2017.
Curzon Energy—Report on Proactive Investors of intended LSE float this year with acquisition of coal bed methane assets in Oregon. Looking to raise £3m plus.
NLB Group—financial and banking institution based in Slovenia, with a network of 356 branches. Seeking Ljubliana Stock Exchange listing with GDRs on the LSE. Expected mid June.
Flying Brands (LON:FBDU)—Prospectus approved by FCA. RTO of Stone Checker Software, supplier of technology solutions in the field of kidney stone analysis and prevention. Has raised £550k at 3p. Subject to GM on 15 Jun.
Kuwait Energy— $150m raise plus vendor offer. Admission due June. 2p reserves 810.0 mmboe
MaxCyte has entered into a Cooperative Research and Development Agreement with the National Institutes of Health's National Institute of Allergy and Infectious Diseases to develop treatments for X-linked chronic granulomatous disease ("CGD") using next-generation gene correction leveraging CRISPR/Cas9 and MaxCyte's Flow Electroporation™ Platform. CGD is an inherited genetic disorder that impairs the function of the immune system and leads to ongoing and severe bacterial infections. The disease affects approximately 1 in 250,000* people worldwide and is currently only treatable through high-risk treatments, such as allogeneic bone marrow transplantation.
Premier African Minerals (LON:PREM) 0.52p £23.05m
The multi-commodity resource and development Company focused on Southern and Western Africa, reported its maiden SAMREC compliant Mineral Resource Estimate ("MRE") on its wholly-owned Zulu Lithium and Tantalum project in Zimbabwe, a country with a long-established history of lithium production. Maiden SAMREC Compliant Inferred Mineral Resource Estimate of 20.1 million tonnes @ 1.06 % Li2O and 51 ppm Ta2O5 using a cut-off grade of 0.5% Li2O. Containing 526,000 tonnes of Lithium Carbonate Equivalent ("LCE") and 1,025 tonnes of Tantalum Pentoxide. Maiden Resource Estimate covers only 35% of Zulu's known 3.5km surface strike length and drilling continues to upgrade and expand this Mineral Resource Estimate.
Gusbourne (LON:GUS) 58p £13.7m
Final results from the English sparkling wine producer. Sales up by 35% to £640,000. Gross profit up by 47% to £217,000. EBITDA loss £0.8m. Cash £1.1m. Continuing success in international wine competitions. The Group's trading in 2017 remains in line with expectations and its long term strategic development plan. Gusbourne's luxury sparkling wines continues to win new sales orders from an expanding base of valued customers both in the UK and overseas. Open Offer, underwritten by Lord Ashcroft KPMG PC, to raise up to £4.2m before expenses, providing further capital for growth. 4 Open Offer shares for every 9 Existing Ordinary Shares at 40 pence per share. We could see no forecasts.
Physiomics* (LON:PYC) 1.17p £0.67m
The UK based systems biology company will attend the Population Approach Group Europe (PAGE) Annual Conference taking place in Budapest, Hungary 7-9 June.
PAGE is Europe's premier conference focused on Quantitative Pharmacology and attracts the top biotech, pharma executives as well as academics working in the field. Physiomics will have a stand at the conference and has arranged a number of meetings with current and potential future clients.
Vp (LON:VP) 850p £341.3m
The equipment rental specialist, has released FYMar1r results. 17% increase in profit before tax and amortisation to £34.9 million (2016: £29.8 million). 19% growth in revenues to £248.7 million (2016: £208.7 million). Final dividend proposed of 16.0 pence per share, making a total of 22.0 pence for the full year (2016: 18.85 pence), an increase of 17%. The new financial year has started in line management expectations against the backdrop of an excellent prior year trading performance for the Group. Expectations for our core markets are for a relatively similar pattern of demand over the new year. Vp has good momentum and this should be further enhanced by the two April 2017 acquisitions. FYMar18E £260.6m, PBT £36.24m. PE c.12x. Yield 2.7%.
FreeAgent Holdings (LON:FREE) 113p £46m
FYMar17 results from the provider of cloud-based Software-as-a-Service accounting software solutions. Revenue increased by 41% to £8.0m (FY 2016: £5.7m).
Gross profit increased by 38% to £6.6m (FY 2016: £4.8m. Adjusted EBITDA £0.7m loss (2016: £0.2m loss) reflects planned investments in customer acquisition, particularly in the practice channel. Net loss £2.9m including £0.8m share based payment. Cash £4.3m. · Accounting Practice Clients strengthened to 33,147 (FY 2016: 16,705)
Direct Clients increased to 17,500 (FY 2016: 15,741). FYMar18E £10.25m rev and £0.3m loss.
H1 May 2017 update from the provider of digital TV entertainment and cloud solutions to network operators. The Group entered the period with a strong order backlog and continued its solid sales execution driven by consistent demand for IP devices. Trading for the period was therefore at record levels, in line with management's expectations. Revenue for the period is expected to be approximately £40m up c.21%, 5% at constant currencies. Expectations for the full year remain unchanged. Net cash at 31 May 2017 was £13.1 million (31 May 2016: £3.1m, 30 November 2016: £6.2m) and was positively impacted by the timing of delivery of larger orders which were completed well in advance of the period end. FYNov17E rev £82.6m, PBT £10.9m., PE c.15x. Yield 3.2%.
Mercia Technologies (LON:MERC)34.15p £103.71m
The national investment group focused on the creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, has completed a £500k investment into Oxford Genetics, a synthetic biology company with significant expertise in DNA design. This investment follows the £1m of additional capital which was provided by Mercia in October 2016 in order to expand the company's management team, board, patent portfolio and commercialisation strategy. Oxford Genetics continues to make significant progress including 100% year on year growth in turnover and the successful award of £1.9million of non-dilutive grants in March.
The healthcare services company focused on providing stem cell services and ground breaking insurance for stem cell treatment has updated update on CellPlan, its revolutionary stem cell healthcare product, which is focused on making expensive stem cell treatment accessible and affordable to families around the world. Receipt of a licence from the Portuguese financial regulator and grant of passport rights - fully authorised to sell CellPlan in the UK, Portugal and Spain. Launch of CellPlan to Biovault stem cell storage customers anticipated to follow this month. Route to market includes direct sales to families and via cord blood banks. No market forecasts.